BA 101 Lecture Notes - Lecture 2: Marketing Strategy
11 Apr 2018
School
Department
Course
Professor
Document Summary
Business 101 lecture 2 business bridge. Marketing strategy encompasses identifying customer groups, or target markets, that a small business can serve better than its competitors, and tailoring its product offerings, prices, distribution, promotional efforts, and services toward that particular market segment. It is important to stay ahead of demand. Stocking-out means that demand was more than what is supplied. The more automated machinery you have, the less it costs to produce your product. Production has to be ahead of demand. If the cost of production declines, the more you will make. Estimates how much money the company will need to grow on. Expanding the amount of capacity a factory can carry, finance will have to estimate how much the company will grow in a certain amount of years and how much it will cost. They plan on how much they make and how much they borrow. They become owners by taking their money and investing it into a company.
